May 11 (Reuters) - Oversea-Chinese Banking Corporation Limited OCBC.SI
* OCBC Bank to acquire National Australia Bank's private wealth business in Singapore and Hong Kong
* entered into an agreement to acquire National Australia Bank's private wealth business in Singapore and Hong Kong
* Purchase consideration will be at around book value
* business will be earnings accretive to ocbc bank within first year of completion.
* Transaction, expected to be completed before end of year subject to regulatory approval
* addition of us$1.7 billion (s$2.39 billion) of mortgage loans will increase overall size of ocbc bank's mortgage portfolio by about 4 per cent
* transaction is not expected to have a material impact on OCBC Bank's capital position
* OCBC Bank will immediately derive interest income from acquired mortgage loans upon completion
* more than half of mortgage loans are booked in hong kong and will be transferred to OCBC Wing Hang in Hong Kong
* remaining mortgage loans, booked in singapore, will be transferred to ocbc bank. Source text for Eikon: ID:nSNZ5XVPR5 Further company coverage: OCBC.SI